Recently abducted Chief Olu Falae was former finance minister and former secretary to the government of the federation in previous eras. However, he has said as finance minister, he forfeited his emoluments to the state.

“When I told them I had no money they said how can I say that when I was once the country’s Minister of Finance,” Falae recounted his ordeal at the hands of kidnappers while playing host to a former governor of  Kano State, Ibrahim Shekarau, in his residence in Obaile, Ondo State.

He continued: “When I told them I had no money they said how can I say that when I was once the country’s Minister of Finance.

“When I was Minister of Finance I did not earn salary. It was by choice, but they would not believe me.”

Falae served as Finance Minister between January and August 1990 under the military administration of Ibrahim Babangida.